PI holds $0.21 support but faces resistance near $0.36 | Credit: Hameem Sarwar
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Key Takeaways
PI has plummeted over 90% from its peak, now consolidating near the $0.21 support level.
The CMF shows rising buying volume, but the MACD signals bearish pressure.
A falling wedge pattern suggests a bullish reversal if buyers break through the resistance.
Pi Network (PI) price has faced a brutal correction, tumbling more than 90% from its all-time high.
Still, market sentiment remains divided. While the PI coin bulls see a potential rebound, bears argue that enthusiasm alone can’t sustain long-term growth.
Amid that back-and-forth, PI trades at $0.21. However, bulls and bears are not the only ones divided; indicators on different timeframes are as well.
So, what does this imply for PI’s price?
PI at Crossroads
As stated several times, the PI coin price is stuck in a descending triangle on the daily chart.
While this structure is bearish, some indicators have flashed bullish signs. For instance, the Chaikin Money Flow (CMF) has broken above the zero signal line, indicating a rise in buying volume.
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Due to this, PI’s price will likely hold the support at $0.21. Once that happens, PI will attempt to rise toward the resistance at $0.36.
However, some other indicators have leaned bullish. One of those is the Moving Average Convergence Divergence (MACD).
As of this writing, the MACD reading is negative. A closer look shows that it has also formed a bearish crossover with the 12 EMA (blue) sliding below the 26 EMA (orange).
Because of this, PI’s price may be challenging to hold at the $0.21 support level. It could also be difficult to breach the upper level resistance at $0.36.
On the 4-hour chart, the PI coin price is showing signs of a potential shift in momentum.
The altcoin is currently trading within a falling wedge pattern — a structure that typically precedes a bullish reversal once the price breaks above the upper trendline.
At present, PI is inching closer to testing that upper boundary, signaling that buyers may be preparing for a breakout attempt.
This wedge formation reflects waning selling pressure, as each downward move loses strength and the price begins to compress into tighter ranges.
If bulls can generate sufficient volume to push above the upper trendline, it could confirm a breakout and open the path for a short-term recovery rally.
In that scenario, PI’s price might look to reclaim the $0.24 resistance level before aiming for higher targets.
However, if buying momentum weakens and PI gets rejected at this zone, the altcoin could remain trapped within the wedge for a while longer, with downside risk toward the $0.21 support.
Overall, the setup shows early hints of a bullish reversal. However, the subsequent few sessions will be crucial in determining whether buyers can build on this pressure and turn structure into momentum.
Disclaimer:
The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.
Victor Olanrewaju is a crypto analyst and reporter at CCN with deep roots in on-chain research and technical analysis. His crypto journey began in 2017, but it was the 2020 Uniswap airdrop that sparked a full-time pivot into the space.
With a foundation in copywriting, Victor honed his craft creating high-converting content for leading crypto brokers — most notably an XRP price prediction that ranked #1 on Google during the 2021 bull run.
He later joined AMBCrypto in 2022, where he combined storytelling with technical and on-chain analysis to cover key market narratives.
In 2024, he expanded his expertise at BeInCrypto, collaborating with analysts and using tools like Glassnode, Santiment, and IntoTheBlock to break down Bitcoin and altcoin trends.
At CCN, Victor covers the top cryptocurrencies, memecoins, macro shifts, blending real-time insights with deep-dive metrics.
He holds a Bachelor’s degree in Physics from the University of Ibadan, equipping him to simplify complex data for a wide audience. Follow his work or connect on LinkedIn or X.
